Mapi Pharma Announces Closing Of $10 Million Investment
NESS ZIONA, Israel, Aug. 17, 2017 (GLOBE NEWSWIRE) -- Mapi Pharma Ltd., a privately held, fully integrated, clinical stage biopharmaceutical company has completed an investment round of $10 million by aMoon Fund. aMoon Fund is an Israeli investment firm focused on innovative Israeli healthcare and life science ventures, founded by Marius Nacht and Dr. Yair Schindel.
Mapi Pharma is engaged in the development of high barrier-to-entry, high added-value lifecycle management pharmaceuticals and complex active pharmaceutical ingredients (“APIs”) and formulations.
The funds raised will support Mapi’s future development and enable the initiation of the Phase III trial for the company’s lead product, Glatiramer Acetate (Copaxone®) Depot, or GA Depot, for the treatment of multiple sclerosis (MS). Mapi Pharma recently completed a successful Phase II, open-label, two arm, multicenter, study to assess safety, tolerability, and efficacy of once-a-month, long-acting IM (intramuscular) injection of 80mg or 40mg glatiramer acetate in patients with relapsing remitting multiple sclerosis (RRMS).
“I am pleased the aMoon Fund team has decided to invest in Mapi and support our future plans. Their commitment to the company is a strong testament to the promise inherent in our clinical assets and technology platform. Their investment will enable us to advance the development of GA Depot as a potential treatment for multiple sclerosis,” said Ehud Marom, Chairman and CEO of Mapi.
“The aMoon Fund was established in order to enable exceptional Israeli healthcare companies to raise the needed funding and achieve their next significant leap. The life science industry is one of Israel’s most invaluable assets for future economic growth and Israeli investors should make sure it is not lagging behind the rest of the world due to under investments,” said Dr. Yair C. Schindel, Managing Partner at aMoon. “We saw in Mapi all the necessary ingredients to build a fully-integrated Israeli-based but global pharmaceutical company, including its management, IP, technology, product pipeline and facilities. Our goal is to support Mapi’s development and production into Phase III.”
About Mapi Pharma
Mapi is a clinical stage pharmaceutical company, engaged in the development of high barrier-to-entry and high added-value life cycle management (“LCM”) products that target large markets and generic drugs that include complex active pharmaceutical ingredients (“APIs”) and formulations. The GA Depot injection, administered once every four weeks, is the first in a series of depot long-acting injections in the company’s pipeline, for the treatment of MS. The product is an LCM of Copaxone®, which requires injections daily or every other day. Mapi is built on strong chemical and pharmaceutical R&D capabilities, a deep understanding of the global market and of regulatory needs and its ability to foster local cooperation and enduring relationships in all of the countries in which it operates. Mapi is headquartered in Israel, with R&D facilities in Israel and China, and an API production facility in the Neot-Hovav Eco Industrial Park south of Beersheba, Israel. Mapi has a strong IP position, filing numerous patent applications for APIs and formulations. For more information, please visit: www.mapi-pharma.com.
About aMoon Fund
Founded in 2016 by Marius Nacht, Chairman of Check Point, and Dr. Yair C. Schindel, former CEO of the National Bureau “Digital Israel”, CEO of Start-up Nation Central, investor and board member in successful healthcare start-ups. aMoon Fund is an investment management firm operating in the Israeli healthcare and life science sector, focusing on companies which offer either life-saving solutions or significant cost savings for global healthcare systems. The goal of the fund is to turn Israel into a major contributor in global healthcare, and fuel the development of cutting edge innovations that will increase the number of individuals leading healthier, longer and more productive lives.
Contacts: Alex Mogle Vice President, Corporate Development Mapi Pharma +972 52 6080297 firstname.lastname@example.org Bob Yedid Managing Director LifeSci Advisors, LLC 646-597-6979 bob@LifeSciAdvisors.com